0

Seeking Innovation. Creating Value.

Collaborating Together.

Medicon Valley Alliance Meeting

5th May 2009

Business Development

www.pfizer.com/partnering

1

About PfizerBusiness Development

www.pfizer.com/partnering

2

Pfizer Inc Revenue in 2008: $48.3 billion; essentially flat year over year despite US LOE of Norvasc,

Zyrtec and Camptosar

R&D expenses: $7.5 billion

Animal Health Sales in 2008: $2.8 billion, 7% growth

We Are Truly a Global Company

* #1 in terms of sales

Source: IMS MAT 1Q08

#2 in Japan$3.6B

#1 in Australia$1.0B

#1 US$19.0 B

#4 Africa / Middle East$0.8B

#2 in Europe$13.6B

#1 in Latin America$1.9B

3

The Heart of Our Work….

TM

SPIRIVAMACUGEN

REBIF

ARICEPT

…Is Bringing Quality Medicines to Patients

4

Broad expertise across 10 therapeutic areas

11 products with sales over $1billion*

14 products ranked #1*

Among the largest, most admired Field Force globally

#1 in US 13 years in a row

100 million patients treated annually

Demonstrated expertise and commitment to working

collaboratively with our partners

*IMS Mat 2Q2008

Working Together for a Healthier World

5

Our Five Key Strategies

Refocus and optimize the patent protected portfolio

Find new opportunities for established products

Grow in emerging markets

Invest in complementary businesses

Instill a culture of innovation and continuous

improvement

Our Path Forward

Applying Innovative Science

6

Pfizer’s Patent Protected Portfolio

More than300

DiscoveryProjects

In Reg.2

Phase III25

Phase II33

Phase I40

Total

100

Accelerating Pipeline with sharpened focus on

key disease areas

Strong flow of medicines expected to progress from

Phase II to Phase III

12 Phase III starts from March 2008 to March 2009

Current Pipeline

For reference use only, not for external

distribution. Updated Apr 2009

7

Customer Focus:The New Business Unit Structure

Business Units

DevelopmentSales &

Marketing

Manufacturing

Medical

Research

Biotherapeutic and

Bioinnovation Center

Business Units and Leaders:

Primary Care Business Unit: Olivier Brandicourt

Specialty Care Business Unit: Paul Richardson

Oncology Business Unit: Garry Nicholson

Established Products Business Unit: David Simmons

Emerging Markets Business Unit: Jean-Michel Halfon

Animal Health Business Unit: Juan-Ramon Alaix

Business Development

8

Research Organization: Small, Nimble, Empowered

Our new Research organization, led by Rod MacKenzie, is now responsible for programs from idea to positive Proof of Concept. It is composed of smaller Research Units led by empowered and accountable Chief Scientific Officers (CSOs)

Research Units include:

CVMED Neuroscience Inflammation/Immunology Oncology Allergy & Respiratory Pain Antibacterials Vaccines Regenerative Medicines Indications Discovery Genitourinary Antivirals

Our Research & Development Organization is supported by Partner Lines including

Pharmaceutical Sciences Drug Safety Development Operations Regulatory Affairs and Quality Assurance

9

Strategy

Deliver a world class pipeline of high value biotherapeutics

Create and maintain an industry-leading competitive advantage

through technology innovation

Lower clinical attrition and decrease development time

Delivering a steady pipeline of biotherapeutics, based on key biologic modalities and novel, validated disease targets 1st Horizon: Monoclonal Antibodies (MAbs) 2nd Horizon: Peptides using alternative scaffold (CovX-bodies) 3rd Horizon: RNAi & Anti-sense 4th Horizon: Stem Cells

Pfizer Biotherapeutics and Bioinnovation Center: A Unique, Innovative Strategy to Establish Leadership in BioTx

Mission Propel Pfizer to the forefront of

bioinnovation and into the top-tier of biotherapeutics companies

10

Single share of voice driven approach to field force deployed

across Europe & US

Multiple field force deployment models, tailored to meet local market

conditions (Deployment differs in open vs. closed access)

Customer segmentation by brand Customer segmentation across Primary Care

National strategies and national planning that informed local

execution

Fully leveraged local market knowledge and true “bottom-up” planning

to inform strategies

Centralized marketing budget and review committee process Earmarked local marketing funds and review committee latitude

needed to pursue local promotional opportunities

Standard set of marketing offerings

for each brand

“Menu” of customer offerings for each brand, deployed in locally

appropriate configuration

From To

Centered on Micro-markets

Customer Centric Nimble

Adaptive

Adept at Finding Opportunities

Focused Innovative

Primary Care:Our New Structure Offers Strong Benefits

11

Specialty Care Business Unit: Deliver extraordinary value in the treatment of serious conditions

Products

Thelin™

Pharmacy

Academic

medical

centers Scientifically-oriented

specialists

Customers

Spirit of a start-up

Entrepreneurial

Customer-

focusedAgile

Innovative

CultureDeliver Extraordinary

Value• Maximize our current portfolio

through strong customer focus

• Successfully develop all

pipeline assets

• Build our portfolio by

becoming a partner of choice

12

Oncology Business Unit:Patent Protected Portfolio

Global Oncology Opportunity:

$81B by 2012 with 7% CAGR

Pfizer Oncology products $1.3B 1H2008

Pfizer Assets and Advantages:

Among top Oncology field forces

#1 in Oncology Account Management for customer

focus and innovative value added program *

PfizerOncology.com – 24/7 access to Pfizer

oncology resources for healthcare professionals

Pfizer Strategy:

Created Business Unit focused on Oncology led

by Garry Nicholson, General Manager Oncology

Pursue continuous cycle of new indications in

different tumor types

Accelerate clinical trial enrollment & execution

Supplement with business development

Leverage biotech assets

* Towers Perrin

Largest Oncology Pipeline with 22 compounds in development

Four Research PlatformsFour Research PlatformsFour Research PlatformsFour Research Platforms

IMMUNO-THERAPYIMMUNO-THERAPY

Reawakens immune system

Reawakens immune system

ANTI-ANGIOGENESIS

ANTI-ANGIOGENESIS

Blocks growth of tumor blood

vessels

Blocks growth of tumor blood

vessels

CYTOTOXIC/POTENTIATORS

CYTOTOXIC/POTENTIATORS

Exploit defects in repair and cycle cells

Exploit defects in repair and cycle cells

SIGNAL TRANSDUCTION

INHIBITORS

SIGNAL TRANSDUCTION

INHIBITORS

Blocks cancer growth signalsBlocks cancer growth signals

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Established Products Business Unit:Unlocking Value

StrengthsStrengths

Oral solid dose

FocusFocus

“Niche” markets

Product enhancements and reformulations

Late stage lifecycle planning

Oral solid dose

FocusFocusFocusFocus

“Niche” markets

Product enhancements and reformulations

Late stage lifecycle planning

A leader in the LOE Market1111

Outpace market growth

2222A leading provider

of low cost medicines

3333

GoalsGoalsGoalsGoals

Brand equity and breadth

Product quality and reliability

Global presence

Technology innovation

Partnerships

Experienced local talent

14

Source: IMS Market Prognosis March, 2009 (total pharma Market Sales in USD with forecasted exchange rates, at ex-manufacturer prices)

Emerging Markets:A Driving Force of Future Growth

India: 15%

Japan: 5%

Germany: -1%

France: 0%UK: 1%

Brazil:

10%

Mexico: 6%

US: 4% China:

20%

Russia: 23%

Turkey: 16%Italy: -1%

Absolute Growth in Developed Markets by 2012: $35B (DM Average CAGR: 2%)

Absolute Growth in Emerging Markets by 2012: $71B (EM Average CAGR: 10%)

Projected Total Market Size for Emerging Markets by 2012: $233B

15

Pfizer Animal Health:A Leader in Animal Health

2008 revenue $2.8 billion

4,000+ colleagues worldwide

More than 700 colleagues are veterinary R&D

scientists and specialists

Operations in 60 countries

Products and services in livestock, poultry and

companion animal

We’re focused on disease prevention through our portfolio of

animal vaccines and animal prescription medicines.

16

Partnering with PfizerWorldwide Business

Development

www.pfizer.com/partnering

17

A Long History of Successful Collaborations…

MacugenEyetech

ZyrtecUCB

ZithromaxPliva

InspraNovartis

GenotropinGenentech

AriceptEisai

CamptosarDaiichi/Yakult

LipitorWarner Lambert

CelebrexG.D. Searle

SpirivaBI

RebifSerono

Syk tyrosine kinase inhibitors

RigelAllergic Asthma

Dalbavancin

VicuronAnti-infectives

CCR2 antagonists

IncyteRA, Diabetes

RAGE inhibitors

TransTechAlzheimer’s

Disease

RTP-801

QuarkAge-related Macular

Degeneration

Pip

eli

ne

La

un

ch

ed

/ A

pp

rove

d

1980s 1990s 2000s

EraxisVicuron

FesoterodineSchwarz Pharma

ApixabanBristol-Myers

SquibbCV/Metabolic

ST-04, ST-03

ScilInflammation

DimebonMedivationAlzheimer’s

Disease

ThelinEncysive

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…And a Commitment to Flexible Working Relationships*

Co-Promotion,

Co-Development

Research

Alliances

Out Licenses

Venture Investments

*Represents a sampling of creative deal structures Pfizer has completed. Deals listed may fit into more than one category noted above

Adolor

Boehringer Ingelheim

Bristol-Myers Squibb

Eisai

Eyetech

Medivation

Serono

Bioren

BioRexis

Coley

CovX

Encysive

Esperion

Idun

Meridica

PowderMed

Rinat

Serenex

Eisai

InsiteArchemix

Abgenix

Direvo

FivePrime

Hydra

Icagen

Medarex

Melior

MorphoSys

Noxxon

Renovis

Scripps

TacereMergers & Acquisitions

Aureon

Avid Radio-pharmaceuticals

Aviir

Entelos

Evolution Benefits

Genomic Health

Handylab

HD Biosciences

M2s

Nodality

Supplyscape

Incubator

Fabrus

RGo

Wintherix

Licenses

Bayer

Celldex

Cytos

FivePrime

Incyte

Kosan

Quark

Rigel

Schwarz

Scil

Sigma Tau

Taisho

Tacere

TransTech

Xoma

Small molecules

Biotherapeutics

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Working Together to Progress Assets, Programs and Technologies

Alzheimer’s Disease

Diabetes

Inflammation &

Immunology

Oncology

Pain

Psychosis

Biotherapeutics

Vaccines

Science & Technologies

(Discovery Platform

Lines, Drug Safety R&D,

Pharmacokinetics,

Dynamics and

Metabolism)

Asthma

COPD

Genitourinary

Infectious Disease

Ophthalmology

Smoking Cessation

Thrombosis

Transplant

Ex-US Opportunities

Areas of Interest Types of Relationships

Licensing

Co-Development / Co-

Promotion

Alliances

Venture Investments

M&A

Out Licensing

See appendix for additional detail.

20

Increased Focus and Transparency: Examples of High Priority Deals

Pain

• Adolor: delta opioid receptor agonist

• Icagen: sodium ion channels

• Rinat: RN624

• Renovis: VRI antagonists

• Hydra Biosciences: TRPV3

Diabetes

• Bayer: BAY 74-4113

• CovX: platform

technology

Alzheimer’s Disease

• Medivation: dimebon

• Rinat: RN1219

• Transtech: TTP-4000/TTP-488

Oncology

• Celldex: CDX-110

• Serenex: HSP-90 Inhibitors

• Coley: vaccines

• CovX: platform technology

Inflammation

• Incyte: CCR2 antagonists

(RA)

Schizophrenia

• Taisho: mGLuR agonist

21

Working With Us

Our Commitment to You: Open communications, transparency

and flexibility – the core of every partnership

Our Goal is Simple: Evaluate your asset as if it were our own.

22

Business Development, Strategy & Innovation

Search & Evaluation

Bob Bagdorf

Strategic Alliances

Ruth Keir

Out Licensing

David Rosen

Venture Capital

Barbara Dalton

International / New BD

Tony Scullion

Transactions

Doug Giordano

Strategy & Innovation

Kristin Peck

BBC &Oncology BD

Polly Murphy

Operations

Deb Mangone

Business Development,Strategy & Innovation

Bill Ringo

Leadership team also includes HR, finance and communication partners

23

International Business Development Current Focus

IBD…complements global deal efforts in alignment with WWBD

We strive to search, identify & execute business development deals focused on:

Late stage compounds (Phase 3….Launched) across a broad scope of Therapy Areas – including non-Pfizer’s core areas

Broad scope of geographies – any market/region ex-US

Variety of deal types – License / Co-Promotion / Co-Marketing

Country

Specific

Deals

Multi-

Country

Deals

International

Deals & co-

development

deals

Region

Specific

Deals

Multi-

Regional

Deals

24

Selected International Business Development Projects –a wide range of Therapy Areas and geographies

Allergy & Respiratory

Anti-histamine - Turkey & Mexico

Idiopathic Pulmonary Fibrosis -Ex -US

Respiratory product range –EU, LA & Asia

Cardiovascular / Metabolic

Anti-arrhythmic - Ex-US

Antihypertensive combo product - EU markets and Asia

Atrial fibrillation - Ex-US

Connective Tissue Disease -Europe

Diabetes - Ex-US

Gout – Emerging Markets

Osteoporosis - Asia

Statin – Australia

Gastrointestinal

Constipation - Ex-US

Irritable Bowel Syndrome Ex-US

PPI - Ex-US

Genitourinary

BPH – CEER

Premature Ejaculation - Ex-US

Infectious Diseases

Anti-malaria - Africa

HBV - EU

Neuroscience

Multiple Sclerosis - Ex-US

Tinnitus - Worldwide

Ophthalmology

Glaucoma - EU

Ophthalmology products - Ex-US

Pain

Opiod Patch reformulation - Ex-US

Pain reformulation products -Emerging Markets

Other

Branded generics - India

Screening / Non-Confidential

Reviews

Confidential Review and

assessment

Due Diligence

Term Sheet

Co

ntr

ac

t s

ign

ed

25

Recent International Business Development Deals

Antihypertensive combination product

Building on Pfizer’s presence in hypertension

Asia deal signed with Japanese Company

Progressing selected other markets

Antihypertensive

Malaria is a strategic focus for Africa & the Emerging Market Area

Deal Signed with US company for Africa with ongoing discussions for other markets

Anti-malarial

Over 25 further active regional projects

Many different therapy areas

Many different markets / geographies

Other

Exciting area of unmet clinical need

Deal Signed for Europe with US company

Ongoing discussions for other markets

Connective tissue disease

26

International Business Development Team

Jamsheed

Banaji

Frank

Overtoom

Stephen

Schleier

Brian

PruittVacant

Alberto

BianchiVacant

Business

Unit (BU)

focus

AllPrimary

Care

Specialty

Care &

Vaccines

Emerging

Markets

Emerging

Markets

Emerging

Markets

Emerging

Markets

Regions

(within

Business

Unit)

Japan

Europe,

Canada,

Australia

New

Zealand

Europe,

Australia

New

Zealand

Central &

Eastern

Europe,

Russia,

Turkey,

Israel,

Caucar

AsiaLatin

America

Africa and

Middle

East

All IBD members have a secondary Therapy Area focus

Business Development for the Oncology and Established Products BU’s is handled globally

27

We’re Ready to Talk With You

Allergy & Respiratory

Chris Brown

chris.d.brown@pfizer.com

Cardiovascular

Ann Barry

ann.barry@pfizer.com

Gastrointestinal

Chris Brown

chris.d.brown@pfizer.com

Genito-Urinary

Jeff Hurtig

jeffrey.hurtig@pfizer.com

Infectious Disease

Anti-fungals/Anti-virals

Alex Chanas

alex.chanas@pfizer.com

Infectious Disease

Anti-infectives/Anti-bacterials

Cyndi Green

cynthia.d.green@pfizer.com

Inflammation

Richard Griffiths

richard.j.griffiths@pfizer.com

Metabolic & Endocrine Disorders

Wick Johnson

wick.johnson@pfizer.com

Bob Knowles

robert.knowles@pfizer.com

Neuroscience

(Neurology/Psychiatry)

Tom Heffner

thomas.heffner@pfizer.com

Oncology

Elizabeth Bachert

elizabeth.l.bachert@pfizer.com

Ophthalmology

Stacy Evans

stacy.evans@pfizer.com

Pain

James Kenney

james.p.kenney@pfizer.com

For BBC Business Development,

please contact

Polly Murphy

Vice President

polly.a.murphy@pfizer.com

Science & Technology

Ruth Keir

ruth.keir@pfizer.com

Asia

Alex Fowkes

alex.fowkes@pfizer.com

For Venture Investments, please contact:

Barbara Dalton

Vice President

barbara.dalton@pfizer.com

For Externalization Opportunities, please contact:

David Rosen

Executive Director

david.k.rosen@pfizer.com

For New Business Development, please contact:

Tony Scullion

Senior Vice President

tony.scullion@pfizer.com

For International Business Development, please contact:

Jamsheed Banaji

Senior Director International Business Development

jamsheed.banaji@pfizer.com

For acquisitions & divestitures please contact:

Doug Giordano

Vice President

doug.giordano@pfizer.com

28

Pfizer remains committed to partnering opportunities – neither the

current climate nor the proposed Wyeth acquisition changes this

The current climate offers some unique investment opportunities

Pfizer remains flexible on deal structure and terms – each deal is

different

Hopefully the previous slides have given you an indication of the

breadth of type of opportunities we would consider

We look forward to hearing from you

Summary and current climate